Skip to navigationSkip to main contentSkip to right columnFatima GulzarSun, June 28, 2026 at 8:46 PM GMT+2 1 min readQUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 Best Semiconductor Stocks to Buy According to Billionaires.Reuters reported on June 24 that QUALCOMM Incorporated (NASDAQ:QCOM) is set to acquire AI startup Modular in an all-stock deal worth nearly $4 billion. Through the acquisition, Qualcomm will gain software that enables AI models to run across different chips without requiring developers to write separate code for each processor.The acquisition also puts Qualcomm in competition with CUDA, the software platform that has been central to Nvidia's dominance in AI by helping build a large developer ecosystem around its chips.As part of the deal, Qualcomm expects to issue up to 19.2 million shares of its common stock to Modular's equity holders.Is QUALCOMM Incorporated (QCOM) Set to Acquire a Startup?Founded in 2022, Modular has raised $380 million, including $250 million in a September funding round. Reuters also cited The Information reporting that Qualcomm is also discussing a potential $8 billion to $10 billion acquisition of artificial intelligence chip startup Tenstorrent.QUALCOMM Incorporated (NASDAQ:QCOM) is a firm that develops and markets core technologies and products for mobile devices and other wireless products. It functions in Qualcomm CDMA Technologies, Qualcomm Technology Licensing, and Qualcomm Strategic Initiatives divisions.While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.Disclosure: None. Follow Insider Monkey on Google News.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info